The bizarre appearance of Iapetus has long intrigued researchers of this Saturnian moon. The leading hemisphere is very dark and reddish in color at visible-near-IR wavelengths. In contrast, the trailing hemisphere is relatively bright and its near-IR spectrum is dominated by water ice. The severe hemispherical brightness dichotomy has been explained by both endogenic and exogenic models. The primary endogenic model involves eruption of dark material onto the leading hemisphere from the interior of Iapetus. Exogenic models include exposure of dark underlying material by micrometeorite bombardment, contamination of Iapetus leading hemisphere by Titan tholin material, and the coating of the leading hemisphere by Phoebe dust. It has been shown that the dark material on Iapetus leading hemisphere is redder in color at visible wavelengths than Phoebe, which is spectrally gray at visible wavelengths. An additional exogenic model involves the coating of both Iapetus leading hemisphere and Hyperion with material from small retrograde satellites, which are reddish in color at visible wavelengths. We present the first FUV spectra of Iapetus and Phoebe to investigate whether the UV wavelength range can contribute to solving the puzzle of Iapetus.